Gt-40 motor timing problems? and smoke

[drtbiker]

oh no guys i got a slight problem i am not sure if i am off a tooth on the distributor..... or if it is firing on the exaust stroke....to keep the motor running smothley with no back firing i have to keep the timing ten degrees retard... or it least it looks that way where is the pointer suppose to be at, everytime i put it so the mark is exactly lined with the pointer the motor dies.... fuel pressure is at 40psi also there seems to be oil coming out of the exaust i am not sure what it is it seams like oil but i am not sure owell back to the timing, my a/f gauge states it is running lean even when i bump the fuel pressure to 60psi.. it seams to back fire if i advance the timing even one degree or i guess u could say detanate. Could it just be that i am a tooth off and that is why it does that it looks ok... i just dont want to blow up my new motor.. the motor has a b-303 cam but why would it idle when the ignition is retarded but when advanced past pointer it dies. should i mess with the fuel pressure reg... or should i just mess with the timing even though it looks correct. or is it my problem that the line is suppose to match up with the cirlce and not the pointer on the stationary pointer



sorry about how long it is guys

thanks
raini